Oregon Mortgage Loans

West Coast Bancorp (NASDAQ: WCBO) is a financial services holding company headquartered in Lake Oswego, Oregon. Its principal holding is West Coast Bank , a full-service, commercial bank with 63 branches in 40 cities in western and central Oregon and western Washington. West Coast Bank offers savings, checking, money market, CD, and NOW accounts in addition to credit cards. The bank also originates commercial and residential real estate mortgage loans, as well as construction, commercial, and consumer loans.

Another subsidiary, West Coast Trust, Inc., provides agency, fiduciary and other related trust services in Oregon. The company also operates a mortgage loan office in Bend, Oregon and a mortgage loan office and Small Business Administration lending office in Vancouver, Washington.

As of December 31 , 2006 , the company had deposits totaling $2 billion and net loans of $1.9 billion.

History

The company was first organized in 1925 in Newport, Oregon under the name of Bank of Newport. In 1995, Bank of Newport merged with Commercial Bank of Salem, Oregon. In 1999, after acquisitions of the Bank of Vancouver (of Vancouver, Washington), and Centennial Bank of Olympia, Washington, the new entity changed its name to West Coast Bank. In October 2009, the company raised $155 million in additional capital, but also received a warning about its lending practices from federal and state regulators.

References

1. ^ "About West Coast Bank". West Coast Bank . http://www.wcbjobs.com/in_aboutus.asp?spage=about . Retrieved 2008-01-09 .  
2. ^ West Coast Bank ( January 6 , 1999 ). "West Coast Bancorp Completes Consolidation; West Coast Bank Opens for Business". Press release . http://findarticles.com/p/articles/mi_m0EIN/is_1999_Jan_6/ai_53524322 . Retrieved 2008-01-09 .  
3. ^ Manning, Jeff (October 26, 2009). "West Coast Bank lands new funds, new problems with a cease-and-desist order". The Oregonian . http://www.oregonlive.com/business/index.ssf/2009/10/west_coast_bank_lands_new_fund.html . Retrieved 2009-10-27 .  

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